Ripple price (XRP/USD) sees losses, but remains above $0.60 on Friday

Dimitar Bogdanov
May 25, 2018 2 min read

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The Ripple price (XRP/USD) has seen edged lower on Friday, marking the end of a rally that developed in yesterday’s afternoon session.

Yesterday, the third-largest cryptocurrency on the market enjoyed a relatively stable trading compared to some of its major rivals, such as Bitcoin (BTC) and Ethereum (ETH). The cryptocurrency did see a decline in the morning portion of the session, but managed to cap its losses, dropping by just 1.6% from its opening level of $0.599. The cryptocurrency’s performance was even more impressive in the afternoon, as its price rallied to an intraday high of $0.640. The coin eventually finished the day at $0.631.

The Ripple price was likely boosted by the announcement that US mobile payments start-up Uphold has completed its integration with the XRP ledger. This means that Uphold clients can now deposit, withdraw and transfer XRP tokens to different wallets directly through the Uphold app. The start-up, which announced that it was adding support for the token in late March, said that the Uphold app “is now one of the few consumer digital money platforms to support full XRP ledger connectivity”.

Also yesterday, actor and tech investors Ashton Kutcher made a $4-million donation in XRP tokens to talk-show host Ellen DeGeneres’ wildlife charity. Kutcher noted that the donation was on behalf of Ripple. The move was widely seen as a clever PR stunt, generating excitement about the cryptocurrency.

While Ripple hasn’t been able to maintain the positive momentum in today’s trading, the cryptocurrency has at least managed to defend the $0.60 mark. In today’s trading, the Ripple price stood at $0.618, as of 12:52 BST. The digital coin has gained 1.3% in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap. Its total market capitalisation currently stands at $24.2 billion.

For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.

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